The 10-second takeaway
For the quarter ended March 31 (Q1), IDEXX Laboratories beat expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share expanded significantly.
Margins grew across the board.
IDEXX Laboratories reported revenue of $322.7 million. The 10 analysts polled by S&P Capital IQ looked for revenue of $314.7 million on the same basis. GAAP reported sales were 10% higher than the prior-year quarter's $292.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.72. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.71 per share. GAAP EPS of $0.72 for Q1 were 16% higher than the prior-year quarter's $0.62 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 54.2%, 130 basis points better than the prior-year quarter. Operating margin was 18.7%, 40 basis points better than the prior-year quarter. Net margin was 12.6%, 10 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $340.1 million. On the bottom line, the average EPS estimate is $0.90.
Next year's average estimate for revenue is $1.31 billion. The average EPS estimate is $3.08.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 216 members out of 227 rating the stock outperform, and 11 members rating it underperform. Among 71 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 70 give IDEXX Laboratories a green thumbs-up, and one gives it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on IDEXX Laboratories is hold, with an average price target of $85.94.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.